Lion Biotechnologies Announces 2015 Fourth-Quarter and Year-End Financial Results NEW YORK, NY (

Lion Biotechnologies

Announces 2015 Fourth-Quarter and Year-End Financial Results

NEW YORK, NY (March 10, 2016) - Lion Biotechnologies,

Inc. (Nasdaq: LBIO), a biotechnology company that is developing novel cancer immunotherapies based on tumor-infiltrating lymphocytes

(TIL), today reported year-end and fourth-quarter financial results. For the fourth quarter and year ended December 31, 2015, the

company reported research and development expenses of $5.1 million and $15.5 million, respectively, compared to $2.7 million and

$3.8 million, respectively, for the prior year ended December 31, 2014. General and administrative expenses totaled $3.9 million

and $12.4 million, respectively, for the three months and year ended December 31, 2015, compared to $2.0 million and $8.2 million,

respectively, for the same periods in 2014. During the year ended December 31, 2015, the company raised $68.3 in net proceeds from

the sale of its shares of common stock and received $9.7 million through the exercise of warrants. As of December 31, 2015, the

company held $103.7 million in cash and short-term investments and anticipates investing between $30 million and $35 million in

its research, development and operations during 2016.

Recent highlights include:

"Our focus in 2015 was to raise the necessary capital,

expand our license and scientific relationships, begin enrollment on a Phase 2 study and build out our management team. I am delighted

that we've achieved success in all of these areas," stated Elma Hawkins, Lion's president and chief executive

officer. "The infrastructure we created in 2015 will be a catalyst to the achievement of our goals for 2016, which include

the initiation of additional studies of TIL both alone and in combination with other therapeutics; additional advances in manufacturing

and process efficiencies; and an expansion of our TIL research platform. I am looking forward to an exciting 2016 as we continue

to demonstrate the benefits of TIL therapy in the treatment of melanoma and other cancers."

About Lion Biotechnologies

Lion Biotechnologies, Inc. is a clinical stage biotechnology

company focused on the development of cancer immunotherapy products for the treatment of various cancers. The company's

lead product candidate is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) for the treatment of patients

with refractory metastatic melanoma, and is based on a clinical Cooperative Research and Development Agreement with the National

Cancer Institute. TIL therapy is also being evaluated in physician-sponsored clinical trials at MD Anderson Cancer Center and Moffitt

Cancer Center. For more information, please visit http://www.lionbio.com.

Forward Looking Statements

This press release contains "forward-looking statements"

as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, the company's future goals,

its operating and financial performance, additional studies and product development, expansion of the company's research

platform, and market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These

statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks

or uncertainties materialize, actual results could vary materially from the expectations and projections. Risks and uncertainties

include, but are not limited to, technological factors, such as technological advances or new products and patents attained by

competitors; challenges and uncertainties inherent in new product development, including uncertainty of clinical success and obtaining

regulatory approvals; uncertainty of commercial success for the company's new and existing products; the ability of the company

to successfully execute its strategic plans; challenges to patents; significant adverse litigation or regulatory investigation;

government action, including changes to applicable laws and regulations and global health care reforms; trends toward health care

cost containment; changes in behavior and spending patterns of purchasers of health care products and services. A further list

and description of these risks, uncertainties and other factors can be found in Lion Biotechnologies, Inc. most recent Annual Report

on Form 10-K and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available

online at www.sec.gov or www.lionbio.com. Any forward-looking statement made in this release speaks only as of the date of this

release. Lion Biotechnologies, Inc. does not undertake to update any forward-looking statements as a result of new information

or future events or developments.

Condensed Statement of Operations

(in 000s, except per share information)

* Includes $562, $286, $2,248, and $1,144, respectively, in stock-based compensation costs

** Includes $1,569, $667, $6,275, and $2,670, respectively, in stock-based compensation costs